This week we saw plenty of important data from Europe. Yesterday we had consumer price index (CPI) data from the Eurozone, an indicator of inflation levels – this was reported at 1%, as forecasted. A combination of good US data and poor news for the euro brought the latter to 11-week lows; however, this was only for a limited period of time as data from the US revealed that tough times lay ahead. This brought the euro back to the previous levels. Official data also showed that French growth, which was forecasted at 0.2%, came out at 0% whereas the Eurozone’s largest economy, Germany, reported growth of 0.8%, in the three months leading up to March – higher than the 0.7% forecast.
There is very little data out of the Eurozone today. Any movements seen are likely to be a result of events elsewhere.
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